On December 19, 2007, Petrojarl Cidade De Rio Das Ostras, operated by Teekay Petrojarl Production AS, departed from Remontowa SA. Following sea trials in the Southern Baltic, mainly the Gdansk Bay, the unit is to begin its journey to Brazil. It will be located in the Badejo field in Campos, in the Membro Siri reservoir, where it will carry out long-duration tests for Petrobras. The Siri field is located in the Campos Basin located off the southeastern coast of Brazil. Petrojarl Production AS, was awarded a contract by Petrobras to supply a floating production storage and offtake vessel (FPSO) for the Siri project in Brazil in September 2006. The contract is assigned to, and performed by, Teekay Petrojarl Offshore L.P., joint of Teekay Shipping Corporation and Petrojarl. The contract is for a two year firm period, with options for Petrobras to extend it by up to an additional year. The FPSO is scheduled to commence production on location at the Siri field during the first quarter of 2008, and is expected to generate annualized cash flow from operations of approximately USD 33 million.

Teekay is a long-term Client of Remontowa, bringing mainly tankers for repairs and conversions into shuttle tankers. Siri field Floating Production System operators have chosen Remontowa SA to perform the conversion of a tanker into FPSO for Petrobras contract. It turned out to become the largest conversion project, recently executed by Remontowa, and this "tanker to FPSO" conversion was also the first of this kind for Remontowa. In November 2006, Remontowa SA was awarded a contract to convert a FPSO for Teekay Petrojarl AS. This is the next step in Remontowa’s expansion into the offshore conversion market, i.e. conversions / upgrades shuttle tankers, FSO, heavy lift vessels, support vessels, semi submersible drill rigs, accommodation units, which have been so far successfully carried out for major offshore customers.

The 46 000 dwt tanker (ex Che Guevara, built in 1981 at AG Weser), now named Petrojarl Cidade De Rio Das Ostras, arrived at the yard berths in December 2006. The main FPSO conversion items were: